The Nation of Belize

Belize's Strategic Geographic Location

Belize is often referred to as the bridge between Central America and the Caribbean, and its strategic location in the region can be likened to what Hong Kong is in the East.  We share a northern border with Mexico and both western and southern borders with Guatemala.  The beautiful Caribbean Sea lies to the east.  International carriers fly to Belize daily – only two hours from the USA.

Belize at a Glance

• Belize has a land area of 8,867 square miles or 22,923 square kilometers and is comparable in size to Wales or the State of Massachusetts in the USA. 
• The terrain - swampy coastal areas, flat savannah in the north, and rainforest foothills and mountains in the south.  The mainland is 174 miles long and 68 miles wide, while the coastline is dotted with over 400 cayes or islands.
• Belize enjoys a sub-tropical climate, average temperature of 79° F/ 26° C.
• One of Belize's main tourist attractions is its 185 miles long Coral barrier reef - the longest reef in the western hemisphere, second only to Australia's.
• The mystery of the Maya civilization has enchanted archaeologists and tourists alike.  To date, over 1,000 Maya ruins have been discovered in Belize.
• Belmopan is the administrative capital, while Belize City is the main commercial center.
• Time Zone: GMT - 6. US Central Standard Time (Daylight Savings Time is not observed).

Belize's Government

Belize, once known as British Honduras, is a former British dependent territory.  In 1862 the country was established as a British Crown Colony;  in 1964 self-government was achieved;  in 1973 the name was officially changed from British Honduras to Belize;  and in 1981 Belize gained full independence.

Our legal system is based on English Common Law supplemented by local legislation.  The court system comprises several Magistrates’ Courts, a Supreme Court, and a Court of Appeals with final appeal being to the Privy Council in London.

The political system is based on the British Westminster model with Queen Elizabeth II as head of State, represented by a Belizean Governor General.

The Bicameral legislature includes a 29 member elected House of Representatives, and a 12 member appointed Senate, while the Executive branch is made up of a Prime Minister and Cabinet.  General democratic elections are held every 5 years.

Belize's Economy

Belize has experienced sustained growth over recent years.  Principal exports include sugar, citrus, bananas, fish products, garments and timber, while principal imports include machinery and transport equipment, manufactured goods, food and beverages, construction materials, fuels and lubricants.

The local currency is the Belize dollar, which trades at a fixed exchange rate of US $1.00 to BZ $2.00.  The Central Bank of Belize regulates the country's financial industry.

Belize's Offshore Legislation

In 1990, Belize enacted new legislation creating the International Business Company (IBC), a refinement of the British Virgin Island's model.  In a short period of time, the jurisdiction has risen to prominence as one of the world's progressive offshore jurisdiction.  In addition to having one of the most modern and up to date offshore legislation, Belize's success can also be attributed to the country's long history of economic, social and political stability.

Principal Pieces of Belize Offshore Legislation

• Money Laundering (Prevention) Act, 1996
• International (Offshore) Banking Act, 1996
• Registration of Merchant Ships Act, 1989
• International Business Companies Act, 1990
• Trusts Act, 1992
• International Insurance Act, 1999
• Mutual Funds Act, 1999
• Limited Liability Partnerships Act, 1999
• Protected Cell Companies Act, 1999
• Limited Life Companies Act, 1999
• International Financial Services Commission Act, 1999

Belize Government's Commitment to the Offshore Industry

The government is fully committed to the ongoing development of Belize as a leading offshore jurisdiction.  Through regular consultations with the private sector, the government ensures that its policies and legislation are more mindful of the needs and interests of the international financial community in an environment which engenders trust and confidence.

Belize's International Partners

Belize is signatory to several conventions, including:  The Caribbean Basin Initiative (CBI), LOME IV, Caribbean/Canada (CARIBCAN) and The Caribbean Community (CARICOM). 

Belize also holds membership in several international organizations, including:  The Association of Caribbean States, The British Commonwealth, CARICOM, African Pacific Caribbean Countries (ACP), The Caribbean Development Bank, The Inter-American Development Bank, The International Monetary Fund, The Non-Aligned Movement, The Organization of American States, The United Nations, the World Bank, The Organization for the Prohibition of Nuclear Weapons in Latin America (OPANAL), and The Caribbean Bananas Export Association.

Belize has double taxation agreements with many countries, including:  The United Kingdom, Guyana, Jamaica, Trinidad and Tobago, St. Lucia, Antigua and Barbuda, Bahamas, Barbados, St. Vincent and the Grenadines, Dominica, Grenada, St. Kitts and Nevis, Suriname and Monseratt.

Belize's People

Belize's population is ethnically and culturally diverse, comprising of a highly trained English speaking professional work force with Spanish also spoken by the vast majority.  The population is approximately 314,275 with a labor force of 122,516 (2007).

Ethnic groups include:  Mestizo, Creoles, Garifuna, Maya, Chinese, Syrians/Lebanese, East Indians, and Caucasians.

Several other ethnic languages are also spoken, including: Creole, Garifuna, Maya, Ketchi and Chinese.

Belize's Infrastructure

Infrastructure and support services include a reputable and modern international banking system, a state-of-the-art telecommunications system, reliable postal and courier services, and first class hotel and conference facilities.  Belize is linked to its immediate neighbors and to the rest of the world by air, land, and sea.

The major banks:  The Belize Bank Ltd., First Caribbean International Bank Ltd., The Bank of Nova Scotia, Atlantic Bank Ltd., and The Alliance Bank of Belize Ltd.

The Philip Goldson International Airport is located 9 miles from Belize City.

Main international carriers:  American Airlines, Continental Airlines, USAIRWAYS, and Taca International Airlines with regular flights to and from Miami, Houston, Dallas and Charlotte in the USA;  Honduras, Guatemala, Mexico and El Salvador in Central America.

Main domestic carriers: Maya Island Air and Tropic Air.

Regular bus services are available to most towns and villages throughout the country, as well as to both Mexico and Guatemala.  Highways:  Total of 2,547 km (1,583 miles) of roads, with 526 km (327 miles) being major highways.

Main deep-water berths and facilities for general and bulk cargoes are located in Belize City, Dangriga and Toledo.

International courier services for express delivery include:  DHL, Federal Express and UPS.

Regular and mobile phone, telex and fax, pager services, e-mail and internet access are available through the local phone company, Belize Telecommunications Limited.  Belize has direct dialing capabilities with most countries worldwide.

Horwath Belize LLP is a member of Crowe Horwath International, a Swiss verein (Crowe Horwath). Each member firm of Crowe Horwath is a separate and independent legal entity. Horwath Belize LLP and its affiliates are not responsible or liable for any acts or omissions of Crowe Horwath or any other member of Crowe Horwath and specifically disclaim any and all responsibility or liability for acts or omissions of Crowe Horwath or any other Crowe Horwath member. © 2010 Horwath Belize LLP Privacy Policy Legal